SS&C Technologies officials report that they have opened an office in the Indian special economic zone Gujarat International Finance Tec-City (GIFT City), which adds to the post-trade systems and services provider’s presence in India. The International Financial Services Centers Authority (IFSCA), which is the regulatory body for special economic zones, has licensed SS&C GlobeOp “to… Read More >>
Yext Acquires Hearsay Systems for $125M
Yext, Inc., a digital presence company, is acquiring Hearsay Systems, a compliance provider for digital communications, for $125 million and will add Hearsay’s offerings to its own, officials say. Yext will also augment the combined offerings with artificial intelligence (A.I.) technologies, officials add. Yext applies A.I. and machine learning technologies to customer engagement, automated workflows… Read More >>
Firefighters’ Pension Fund Taps Northern Trust
The Firefighters’ Retirement System (FRS) of Louisiana has tapped Northern Trust to improve the operational efficiency of its $2.4 billion fund via asset servicing and data analytics capabilities, officials say. “FRS of Louisiana is a government-defined benefit pension plan, established by the state legislature in 1980 to provide retirement and other benefits for Louisiana firefighters,”… Read More >>
NYSE Equities Trading Hit By Temporary Glitch
Equities trading via the New York Stock Exchange (NYSE) got off to a rocky start on Monday, June 3, causing transaction halts for as many as 40 symbols listed on NYSE Group exchanges, officials say. The glitch was resolved before Noon EST. “After the market opened on the morning of June 3, 2024, a technical… Read More >>
Acadia Updates Open Source Risk Engine
Acadia, a provider of risk, margin, and collateral tools for derivatives transactions, has unveiled the 12th release of its Open Source Risk Engine (ORE) that offers advances in market risk and initial margin analytics, officials say. This latest release of ORE “completes a financial instrument rollout across all risk classes covered by the service —… Read More >>
FTF Reveals the Winners of the 2024 FTF Awards
Financial Technologies Forum (FTF) proudly announces the 2024 FTF News Technology Innovation Awards competition winners. The awards effort shines the spotlight on the winners of the FTF Awards competition — now in its 13th year — for their accomplishments in 2023 and on individuals who have made great contributions to their profession and those who… Read More >>
IPC & VoxSmart Partner to Improve Transcriptions
IPC Systems, a trading communication and multi-cloud connectivity provider, is collaborating with VoxSmart, a communications surveillance company, to improve multilingual transcription technology for financial services firms, officials say. The collaboration will involve artificial intelligence (AI) technology and “real-life conversations had by capital markets professionals,” officials say. The partnership is intended to yield “a 50-fold increase… Read More >>
Firms Fear Manual Processes Could Spur T+1 Failures
As North American financial markets brace for the impending transition to a T+1 settlement cycle next week, concerns are mounting over the reliance on manual post-trade processes, which could lead to unwelcome settlement failures and increased costs. Firms lacking adequate technological infrastructure are now in a frantic last-minute scramble to automate manual post-trade processes, with… Read More >>
NYSE Council to Explore A.I. & Other Technologies
The New York Stock Exchange has launched the NYSE Tech Council, a group of senior technology leaders that will explore best practices for artificial intelligence, cybersecurity, and other cutting-edge technologies. “The council will be comprised of chief technology officers, chief information officers and other C-suite technology leaders from NYSE-listed companies,” according to the announcement. “With… Read More >>
Should the GAO Audit the CFTC?
Caroline D. Pham, a Commodity Futures Trading Commission (CFTC) commissioner, started the Open Meeting on May 10 with a bang — she wants the U.S. Government Accountability Office (GAO) to investigate the CFTC because she thinks the regulator has expanded its jurisdiction without a proper mandate, and, as a consequence, has strayed far from its… Read More >>
